Benecard
Why gamble with your prescription drug benefit?
Achieving your goals is a requirement for success. Choosing a PBM whose goals are different from yours is a risky gamble. Benecard will guarantee you a winning hand by making sure our goals align with yours.
Benecard
Experts in Rx program management delivering guaranteed results.
Our fixed rate Rx programs combine clinical excellence, industry leading cost management and guaranteed results. Benecard has been administering prescription drug programs for over 30 years to public and private sector employer groups. We offer a unique funding arrangement that delivers the best of both the insured and self-funded worlds: the financial stability and budget predictability normally associated with a fully insured program combined with the program design flexibility, control, and financial reconciliation (return of savings) for good plan performance associated with self-funding.
What We Do
Benecard handles all your prescription benefit management needs in-house.
Regardless of how you currently fund your Rx benefit (ASO, fully insured, level billing) our expert administration can make the difference between program success and failure. Unlike traditional PBMs, with thousands of clients and 10s of millions of covered lives, we concentrate on providing the highest level of member and client service to organizations with over 100 employees or primary members. Our clients don’t trade off the service they deserve simply because of their size. This service model is supported by our top rankings in the Pharmacy Benefit Management Institute’s (PBMI) PBM Customer Satisfaction Survey for the last six years.
Our Services
Benecard’s philosophy is to continuously look within our own organization as well as the marketplace to identify and integrate best-in-class services.
Clinical Cost Management
We are committed to effectively managing escalating prescription drug costs through evidenced-based clinical cost saving programs that benefit both members and plan sponsors.
Personalized Roadmap to Care
A personalized treatment plan can lead to better care and lower healthcare expenditures. We offer a personalized test that can determine the right medication and dosage for that individual. The results are shared with prescribers and our claims system to improve care and overall costs.
Specialty Drug Management
One specialty medication can turn a patient’s life and the plan sponsor’s budget upside down. We offer a comprehensive approach to our specialty management program that is valuable to both the patient and the plan sponsor.
Copay Assistance Program
Some people cannot afford their medication. We are here to assist your members’ access to the medication they need by accepting copay assistance programs and coupons.
Why Benecard
The Difference Benecard Can Make
Fully Insured to Fixed-Rate
Client Profile
Collectively Bargained, Municipality with ~800 Employee Lives
Rx Benefit Profile
Carved-In, Fully Insured Program through Regional Medical Carrier, Population Enrolled in $3/10 and $5/15 R/M Copay See Case Study
$6,395,914
$5,148,564
19.5%
Savings
Self Funded to Fixed-Rate
Client Profile
Collectively Bargained, Public School District with ~1,400 employee lives
Rx Benefit Profile
Carved-Out, Self-Funded Program through National PBM, Majority of population enrolled in $10/$20 R/M copay.
$8,601,222
$7,989,056
19.8%
Savings
Fully Insured to Fixed-Rate
Client Profile
Collectively Bargained, Public School District , ~400 Employee Lives
Rx Benefit Profile
Carved-In, Fully Insured Program through Regional Medical Carrier, Pool Rated, Population Enrolled in $3/$10, $5/15 R/M Copay
$2,572,608
$2,275,181
11.6%
Savings
Group Returns to Benecard
Client Profile
Collectively Bargained, Public School District, ~880 Employee Lives
Rx Benefit Profile
Carved-out, Fully Insured Program through Regional Medical Carrier, Population Enrolled in $10/25, $10/10 R/M Copay
$4,862,287
$4,278,813
12.4%
Savings
Rich Allen, Partner, Allen Associates Insurance
Timely, excellent, and cost contained Rx benefit programs.
“The Benecard team always provide us with timely, excellent and cost contained prescription programs to propose to our clients. In addition, they are a delight to work with. I always get rave reviews from my staff, singing the praises of everyone they interact with at Benecard. I am thankful we found Benecard 30 years ago. I know that Benecard likes to note that they always have a handle, “…on the pulse of prescription drug benefits.” When it comes to cost control, risk protection and targeted services, I’d say that indeed they do!”
Rich Allen, Partner, Allen Associates Insurance
Lou Della Penna, Jr., President, Brown & Brown Benefit Advisors, Inc.
A PBM with real solutions that validates results.
“Benecard is the premier Pharmacy Benefit Manager (PBM) our clients choose to utilize when it comes to their Rx benefits. Benecard’s team truly understands the pharmacy benefit landscape. Not only do they provide real solutions to problems, but they also validate the results! There is a bevy of PBMs out there today promising to save the world. However, our clients choose to follow Benjamin Franklin’s old adage that “Well done is better than well said” and that is a tremendous testament to the efforts that Benecard and their entire team bring to the table.”
Lou Della Penna, Jr., President, Brown & Brown Benefit Advisors, Inc.
– Scott Davenport, REBC, CEBS, Managing Director, Public Entity & HIF Practice Leader, Conner Strong & Buckelew
Transforms prescription benefit programs’ performance.
“We have been working with Benecard for nearly 20+ years and they have transformed the way our clients’ prescription benefit program performs under their administration. Our public sector clients have benefited under Benecard’s administration with budget predictability, annual and repeated financial savings, and improvement in our members safety and care through their clinical programs.”
– Scott Davenport, REBC, CEBS, Managing Director, Public Entity & HIF Practice Leader, Conner Strong & Buckelew
– Joe Maurillo, IMAC Insurance Agency, Acrisure Agency Partner
Our client got both immediate and long term cost savings.
“When we moved one of our school boards from a PBM who provided a self-funded arrangement to a fixed rate insured program administered by Benecard, reported claims dropped 30% in the first month and remained that way ever since! In addition, the board saw no renewal increase and received a $330,000 credit based on Benecard’s Return of Savings program.”
– Joe Maurillo, IMAC Insurance Agency, Acrisure Agency Partner